Closer to home, China’s vice premier Liu He is in Washington to continue trade discussions with U.S. officials. The U.S. and China have resolved most of their issues, but still have differences over the fate of existing U.S. tariffs and enforcement mechanisms to ensure that the deal is adhered to, the Financial Times reported late Tuesday.

“Ninety per cent of the deal is done, but the last 10 per cent is the hardest part, it’s the trickiest part and it will require trade-offs on both sides,” Myron Brilliant, executive vice-president for international affairs at the U.S. Chamber of Commerce, told the FT.

GameStop (NYSE:GME) slumped 9.1% after the company reported a decline in same-store sales, while Caterpillar (NYSE:CAT) slipped 1.4% after Deutsche Bank (DE:DBKGn) cut its rating to hold due to order backlog concerns, according to TheStreet.

On the economic front, ADP (NASDAQ:ADP) private payrolls come out at 8:15 AM ET (12:15 GMT), while the ISM service sector activity survey is at 10:00 AM ET (14:00 GMT).

In commodities, gold futures inched up 0.1% to $1,297.25 a troy ounce, while crude oil gained 0.2% to $62.70 a barrel. The U.S. dollar index, which measures the greenback against a basket of six major currencies, fell 0.4% to 96.57.